What the numbers say: Nvidia is peaking as one of the top-selling stocks in the U.S. at the moment. The software company and chipmaker that is heavily linked to AI advancements is a sought-after stock, seeing its share price rise to the $400 level for the first time. It has seen a dramatic rise over the past six months as investors look to capitalize on its growth. Relevance: Nvidia has become a stock that many money managers have looked at after the company was valued at $1T. State Street, Fidelity, Amundi, Ameriprise's Columbia Threadneedle, and Loomis Sayles all cut positions in Nvidia in the first quarter of 2023 before a large push skyrocketed the stock. It has made fund managers load up on the stock again. The demand for the stock has risen with the demand for chips used in generative AI. More data: Nvidia is one of the top 10 most active U.S. stocks in terms of performance over the past month, growing 35.59%. Its YTD growth for performance has been 165.08%, according to Investing.com. Nvidia also just invested in generative AI startup Cohere. |
